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WEALTH REPORT


53%


THE PROPORTION OF WEALTH ASIA-PACIFIC’S HNWIS HELD IN EQUITIES AND REAL ESTATE IN 2009


modest) in 2008. Most countries in the region provided fiscal and monetary stimulus in 2009, although some are now raising interest rates in an effort to forestall the emergence of economic overheating and asset bubbles. National savings rates stayed high in the region’s


less developed countries despite the stimulus measures, but fell somewhat in 2009 in the three industrialized countries. The region overall still has the world’s highest savings rates. Consumer confidence and private consumption nonetheless remained high, especially in China and India. Both equity markets and housing prices recovered strongly across the region following heavy declines in 2008. According to the report, “the Asia-Pacific business


outlook generally remains promising, making the region a likely magnet for global companies and private investment”. While “the financial crisis has ... shown that Asia-Pacific is not immune to economic weakness in other parts of the region and world, [it] has proved more resilient than other regions and is expected to


continue to fare well as part of the global recovery supported by robust private demand, strong intra- regional trade and favorable consumption levels, which should help to offset weakness in exports”.


Where the wealth is held The region’s HNWIs held more than half (53 per cent) of their wealth in equities and real estate in 2009, reversing the flight to cash-based instruments during the GFC. These instruments’ share of HNWI wealth fell back from 29 per cent to 22 per cent. Residential real estate was particularly favored. A slight trend emerged for HNWI investments to be


broadened beyond their home region – the share of such investments located in the Asia-Pacific fell from 67 per cent to 64 per cent. The report predicts that “allocations to equities and


fixed-income investments are expected to rise [in 2011] among Asia-Pacific HNWIs ... fuelled by strong economic growth in the region and a strong desire among HNWIs


 FAMILY OFFICE: ASIA TOMORROW 15


FOCUS ON AISA-PACIFIC


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